Legal Issues Of Emission Right Mortgage

The legal status has not yet been confirmed in our country, and there is an embarrassing situation in which the legislation is lagging behind practice. It is urgent to establish the emission right from the legal level so as to guide the practice of emission rights trading.At present, the practice of mortgage of pollutant discharge in various provinces and cities is mainly guided by the joint management of local environmental protection bureaus and local sub-branches, which have low level of legal effect and lack of guidance of unified upper-level law. Under the specific procedural regulations , The form of collateral or pledge of the form of mortgage claims on the discharge of the right to mortgage the right to mortgage publicity method is not clear, in addition, the valuation of emission rights when the valuation of the reference factors are still different and unreasonable , The way the mortgagee finally realize the mortgage should also be improved.. These emissions of mortgage rights in the practice of chaos, the urgent requirements of the emission right mortgage system legislation, emission rights mortgage law not only to enrich the traditional civil law forms of security, and will inevitably reduce the risk of emission rights mortgage, to encourage more enterprises and Banks to participate in them, thereby expanding the impact of emissions trading to promote emissions trading system.The right to discharge the mortgage can be carried out, there is justification basis. The object of emission rights is environmental capacity, environmental capacity has a certain value, to meet the needs of mankind and can be dominated by mankind, this concept is consistent with the characteristics of civil law, emission rights is essentially the use of environmental capacity, Income rights, and thus is a usufructuary right. Usufructuary right can be used as collateral for collateral, in our country has legislation precedent.First of all, we should unify the form of the discharge right security as collateral, whichis determined by the usufruct property right of the emission right and the current market situation of the emission trading. Secondly, we should clear the publicization of the emission right mortgage Third, mortgage, the valuation of emission rights should be based on the market price as the guide to government pricing, to avoid the use of the right to control the discharge of the right to control, Finally, in order to realize the right of mortgage, we should try to cultivate the mature secondary market, so as to transfer to the third party through the trading platform and through the court to achieve the mainstream of the auction approach, and the establishment of special insurance , For the realization of mortgage escort.